REAL ESTATE

Two new outlet projects to be developed

BY Katherine Boccaccio

Indianapolis — Simon Property Group Tanger Factory Outlet Centers announced Wednesday a joint venture to develop two new upscale outlet centers in Charlotte, N.C., and Columbus, Ohio.

The two companies said they will build a 350,000-sq.-ft. outlet center – branded Charlotte Premium Outlets — in Charlotte in a location previously announced by Tanger, eight miles southwest of uptown Charlotte. There is also the potential of a 50,000-sq.-ft. expansion from the first phase of the project. Opening is slated for spring 2014 and is expected to feature more than 90 upscale brand name and designer outlet stores.

Simon and Tanger also plan to build an approximately 350,000-sq.-ft. center in Columbus, branded Tanger Outlets. The center is planned to open in time for the 2014 holiday season. When completed, the center will be home to more than 90 upscale brand name and designer outlet stores.

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REAL ESTATE

tvsdesign celebrates opening of fifth largest retail center in China

BY Marianne Wilson

Tianjin, China — Global architecture and interior design firm, tvsdesign, celebrates the opening of Galaxy Mall, the retail portion of Tianjin’s new Cultural Center District, which opened in October 2012. With 360,000 square meters of total building area, Galaxy Mall ranks among the top five largest retail complexes in China, and is more than 80% leased.

The complex opens out to the cultural activities and pedestrian flow of the grand promenade linking the grand Theater and Opera House to the east and the museums, art gallery and library to the south. The central lake extends into the retail site as the water feature flows down a dramatic waterfall and into the below grade retail.

The retail center features five floors rising to a height of 30 meters above ground and a single below grade level linked to the adjacent subway terminals and underground parking. Creating a concept for the interior of the Galaxy Mall organized around four distinctly unique shopping experiences with the Sun, Moon, Star and Earth Courts, tvsdesign conceived of a unique feature in each court with shopping and dining opportunities.

The complex’s focal point is a crystalline building of feature restaurants. This faceted glass building is the sculptural icon of the Commercial Complex, creating a complementary building edge for the buildings across the lake while maintaining the visual prominence and importance of the Opera House.

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Bayer forms JV to acquire The Avenue Webb Gin

BY Katherine Boccaccio

Birmingham, Ala. — Bayer Properties announced that, through a joint venture between it and institutional investors advised by J.P. Morgan Asset Management, has acquired The Avenue Webb Gin outdoor mixed-use shopping center from Atlanta-based Cousins Properties.

The 351,007-sq.-ft. outdoor fashion center is located in northeast suburban Atlanta, and features office space, restaurants and specialty retail including Barnes & Noble, White House | Black Market, Chico’s, Francesca’s Collections, DSW Shoes, Ted’s Montana Grill and Romano’s Macaroni Grill.

This is Bayer Properties’ first asset in the state of Georgia, further extending a national footprint and mixed-use asset portfolio of over 10 million sq. ft.

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